Tag Archives: reverse mortgage Myrtle Beach

Your lifestyle goes through several major changes as you get older and one of the most significant ones is when you transition into retirement. Retiring is different from one person to another. But one of their goals is to be financially independent.… Read More

The originators of reverse mortgages have always lauded the advantages of reverse mortgage options for a few prospects relative to HELOCs or home equity lines of credit. However, the latest changes in the home equity lending environment brought this differentiation back to the fore, and a few originators are getting higher numbers of inquiries because of people who want to get a HELOC but are unable to qualify.… Read More

Seniors in the United States are sitting on a whopping $7.19 trillion in housing wealth. Although it wasn’t part of balanced retirement plan, reverse mortgage could be an effective way of funding retirement. Tapping home equity can help generate income and hedge against possible correction in the housing sector.… Read More

Whether you are looking to repair your home or supplement your income during retirement, a reverse mortgage loan can help. However, there will be some extra steps you need to take when getting a reverse mortgage, which will make the process similar to applying for a traditional loan.… Read More

If you don’t have a regular source of income after retirement, you will most likely find yourself struggling with your finances. If you own a house, a reverse mortgage is one great option that can help you deal with your financial problems.… Read More

Reverse mortgages are costlier compared to other types of loans, as per the Consumer Financial Protection Bureau. Compared to traditional mortgages, the loan you own will grow the longer you draw from the mortgage.

A lot of seniors may find themselves needing cash for family support, healthcare, or retirement.… Read More

In a move that has the potential to reinforce or accentuate the viability of reverse mortgages for some, JPMorgan Chase has temporarily halted acceptance of applications for home equity lines of credit (HELOCs) due to the ongoing economic effects of the COVID-19 coronavirus pandemic, specifically the combined impacts of rising rates of unemployment and initial projections that home prices could fall.… Read More

Just like with most recessions, the coronavirus outbreak has businesses and investors looking for opportunities to leverage. To put it simply, this is the idea of using borrowed capital or different financial instruments to multiply the possible return. There has been an increase in the interest from CEOs and business executives in jumbo reverse mortgages.… Read More

Seniors are given a way to make full use of their home equity through a reverse mortgage so they can finance their retirement. With many people living a lot longer, a reverse mortgage loan can serve as an income in case their retirement savings can not cover all of their living expenses.… Read More

(While this article was written to explain current interest rate increases in the “traditional or forward” mortgage-backed securities market, the same principal holds true with interest rate increases with the “reverse” mortgage-backed securities market.)

With the economy in near shambles, layoffs becoming widespread, and more of the country under orders to shelter in place to stem the spread of the coronavirus pandemic, historically low mortgage interest rates were one financial bright spot.… Read More